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Department Enters into Consent Order with Aapex Financial Solutions, Inc. and its Owners, Jacob Coker and Margaret Huddleson

Department Enters into Consent Order with Aapex Financial Solutions, Inc. and its Owners, Jacob Coker and Margaret Huddleson

December 6, 2012

 

Atlanta, Georgia — On December 4, 2012, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Aapex Financial Solutions, Inc. (“Aapex”), mortgage broker’s license number 24089, NMLS number 138858, located at 21321 Catawba Avenue Cornelius, NC 28031, and its owners, Jacob Coker, mortgage loan originator’s license number 32063, NMLS number 141159, and Margaret Huddleson, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act.

The terms of the Consent Order include the following:

The surrender of the mortgage broker’s license of Aapex is effective as of December 4, 2012;

Jacob Coker and Margaret Huddleson are prohibited from directing the affairs of a Georgia mortgage broker or Georgia mortgage lender or from acting as directors, officers, partners, equitable owners, or any other equivalent role for a Georgia mortgage broker or Georgia mortgage lender for a period of five years; 

Jacob Coker and Margaret Huddleson are prohibited from acting as branch managers of a Georgia mortgage broker or Georgia mortgage lender for a period of five years;

Jacob Coker and Margaret Huddleson are prohibited from applying for Georgia mortgage broker’s or Georgia mortgage lender’s licenses, either in their individual capacities or as the owners or officers of a corporation, partnership, or limited liability company for a period of five years; and

Aapex shall pay fines to the Department in the amount of $8,100.00.

 

Contact
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: rodc@dbf.state.ga.us

 

The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage loan originators, mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.  Visit us on the Web at: http://dbf.georgia.gov/

 

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